$5,000 Welcome Home Grant opens March 1st 2013 (CLOSED 4/29/13)

$200,000 in Welcome Home grant funds available to low and moderate income home buyers in Central Ohio. The grants are available up to $5,000 and funds can be used for both down payment and closing costs. For the purpose of this program income limits are $54,000for a 1-2 person family and $62,100 for a family of 3 + (Franklin & surrounding counties)
The Welcome Home program is for the purchase of an owner occupied primary residence. This program is NOT limited to 1st time home buyers but for qualifying buyers that currently do not own a home. 1st time home buyers are required to complete home buyer education prior to closing on their home and home buyer’s education is recommended for all buyers under this program. Home buyers must contribute a minimum of $500 to the transaction.
Funds for this program are available on a first come/first serve basis and you must be in contract on a property to reserve funds. FHA financing is available in conjunction with this grant program at current interest rates subject to loan qualifications. With FHA rates so low there is no better time to make application for both an FHA loan and the Welcome Home grant program.